Soaring student rents permeate Cyprus educational landscape
The student housing situation in Cyprus continues to present challenges after the pandemic, with high rental prices, limited supply, and increased demand creating a difficult environment for students.
Rents near major universities are proving expensive for students: - Near the University of Cyprus in Nicosia, one-bedroom apartments cost up to €700 per month, studios about €650, and two-bedroom apartments around €750. - In Limassol, rents range from €600 to €880 for one-bedroom apartments and €1,100 to €1,300 for two-bedrooms. - Paphos has slightly lower prices, with one-bedroom apartments up to €700 and two-bedrooms up to €1,000 per month.
The rising rental costs have made it difficult for many students, especially first-years, to find affordable accommodation. To cope, many students share apartments, facilitated by online platforms like POFEN's Facebook group. Without new solutions, students may increasingly seek housing outside major cities, which is less convenient.
In response, several solutions and initiatives are underway: 1. The Cyprus University of Technology is constructing over 700 new affordable student residences in Limassol and Paphos, aiming to house about a third of its undergraduate students. This project also upgrades campus facilities and is supported by a €125 million loan from the European Investment Bank. 2. The new TEPAK dormitories in Limassol, once completed, will help meet demand, especially for socio-economically eligible students who currently receive a rental subsidy of €250 monthly, free meals from the local diocese, and scholarships. 3. The Cyprus government has introduced affordable housing schemes and subsidies targeted at young people and couples (though broader than students), intended to increase overall housing stock and alleviate market pressure, which could indirectly benefit student affordability if extended or scaled.
In Limassol, a subsidised dorm room costs €350 per month. The Facebook page "CUT Private Apartments Network" in Limassol helps students find apartments and flatmates. In Paphos, a cooperation agreement between the Municipality of Paphos and the Cyprus University of Technology provides 150 studios, with 100 subsidised at €350 and 50 non-subsidised at €550 per month.
The University of Cyprus currently offers 208 beds at €180 per month, with priority for first-year students. New apartment buildings under construction close to the University of Cyprus in Aglantzia, Nicosia, are expected to offer 350 additional studios and one-bedroom units.
However, construction of new dormitories in Nicosia and Limassol by public universities is progressing slowly. Student unions in Nicosia are trying to secure discounted beds in private dorms for students meeting certain criteria. Senior-year students can search year-round for apartments through the network, with some finding apartments for as little as €400.
In Nicosia, more two-bedroom apartments are desired for cost-sharing purposes, as students prefer them. Despite these efforts, rental prices around university areas remain high and a key issue for students. The construction of new dormitories and support programs is critical to improving the affordability and availability of student housing in Cyprus post-pandemic.
In summary, high rents and limited housing options challenge student affordability in Cyprus, but ongoing large-scale university-led housing projects, government subsidies, and community sharing initiatives represent promising solutions to address these needs in the near future.
[1] Cyprus News Agency [2] Cyprus University of Technology [3] Pancyprian Federation of Student Unions [4] Cyprus government affordable housing schemes and subsidies
- The uncertain economy caused by the pandemic has made it difficult for many students in Cyprus to find affordable accommodation due to high rental prices and limited supply.
- To cope with the situation, students are sharing apartments, utilizing online platforms like POFEN's Facebook group, and increasingly seeking housing outside major cities.
- To address this issue, initiatives such as the construction of new affordable student residences by the Cyprus University of Technology, subsidized dorm rooms, and government affordable housing schemes are underway.
- For instance, the Cyprus University of Technology is constructing over 700 new affordable student residences in Limassol and Paphos, with a subsidized dorm room costing €350 per month in Limassol.
- Similarly, the new TEPAK dormitories in Limassol, once completed, will provide affordable housing for socio-economically eligible students.
- In education and self-development, learning more about personal finance and budgeting can help students make informed decisions about housing and better manage their finances.
- With technology playing an increasingly important role in facilitating housing solutions, it is important for students to stay informed about tech advancements and opportunities that can assist them in finding affordable accommodation in Cyprus.
